Dear Friends,

have been told that the above project is hot. Can someone tell me if the Hiranandinin Palace Gardens, Chennai is a good investment?

Thoughts will be very appreicated.
L
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  • Palace Garden

    Originally Posted by lakhgill1
    Dear Friends,

    have been told that the above project is hot. Can someone tell me if the Hiranandinin Palace Gardens, Chennai is a good investment?

    Thoughts will be very appreicated.
    L

    Hi...
    Chennai Palace Garden is a good long term investment project
    And i can recommend you if your are looking at a 3 year + horizon
    CommentQuote
  • Palace Gardens Chennai

    Hi Ram

    Thanks for the note and much appreciated.

    Will you be able to recommend any navi Mumbai developments? I have heard Hiranandani in Panvel has just been launched - what are your views?

    Kind Regards

    Lakh
    CommentQuote
  • Hey, the project is in Oragadam ,went there a week back. The surrounding area is full of barren land and the only decent road is the still to be laid SH57. They launched a year back at 2450 and are now quoting 3400. When asked why the increase in the rates the CC guy told me it was because of the construction quality and world class amenities. When asked to explain what specific 'quality or world class amenities' he sheepishly conceded it was because of the demand. The project is a rip off.

    Land within 1 km of this project can still be bought for Rs. 400 a sq ft. Hiranandani has shamelessly hiked the prices. Consumers shouldnt fall for it. Their business complex will come only in Phase 2 and not phase 1 which will have 1750 apartments. The distance to the Airport would be 30 Kms . There is absolutely nothing that can justify the price charged by them. Better some other projects like DLF.
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  • Hiranandani palace Gardens

    The project is selling at Rs 3400 for several reasons. One is off course demand. Can you tell me why DLF is selling at 3500 when another developer in the same vicinity is selling at 2800. When you buy DLF or Hiranandani, you pay for quality. You get what you pay for. I was a real estate consultant and I have seen good appreciation in such properties. Who knew that Hiranandani's powai will command a rate of 16000 when they started selling at 2000. For best returns on investment, one should always take the first mover advantage
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  • First Mover? Or Last Mover?

    Originally Posted by jyotibakshi
    The project is selling at Rs 3400 for several reasons. One is off course demand. Can you tell me why DLF is selling at 3500 when another developer in the same vicinity is selling at 2800. When you buy DLF or Hiranandani, you pay for quality. You get what you pay for. I was a real estate consultant and I have seen good appreciation in such properties. Who knew that Hiranandani's powai will command a rate of 16000 when they started selling at 2000. For best returns on investment, one should always take the first mover advantage


    I like the one about "first move advantage". If you are buying Real Estate THIS LATE in the boom (when the bust has already started) you are a LAST MOVER or at least one of the LAST EARLY MOVERS.

    Wait for the decline to run its full course. The same 3400 per Sft will be available for 700 per Sft. Mark my words.

    And wait for that Powai to come down from 16000. I'm betting it will be at least 8000 if not lower when this bust is finished :D
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  • Wise words from U

    Hi,

    I am a consultant in Chennai and I am fabergasted with the rates applied to the hiranandini project off oragadam. Why, cause, currently I am facilitating purchase of land around that area for a MNC at about 150 Rs./ Sq. Ft.
    Well, that's all I would like to say and the rest is upto to you to envisage the manipulations etc. prevalent with every builder/ developer. God help us.
    CommentQuote
  • Investment in Hiranandani

    I am planning to book a flat in Hiranandani palace gardens, chennai.

    Any views about the project?
    CommentQuote
  • Hiranandani Palace Garden, Panvel

    Dear friends,

    Hiranandani Panvel will be launching by next week at the rate of Rs 3600 psf on builtup area.

    I was reading through the new housing bill legislature passed by and was signed by Hon. VILASRAO DESHMUKH (Chief Minister) dated 23 July 2007, that builder have to sell the property on carpet area rate and not on builtup or super built up.

    For those who are intrested in buying an apartment/villas/penthouse in Hiranandani panvel project please insist the builder to book on carpet area.

    Here are the official link for Housing bill legislature:
    http://www.maharashtra.gov.in/pdf/HPeng.pdf

    Also see the very intresting article in Indian express about the (the Maharashtra Ownership of Flats Act, 1963,)
    http://www.indianexpress.com/news/old-habits-die-hard-carpet-area-remains-a-hype-that-govt-built-up/366208/

    This mail is just to educate investors and the individual buyers about the new option.

    Regards

    This mail is just to educate investors and the individual buyers about the new option.

    Regards
    CommentQuote
  • This is to - Iamgsprabhu.
    Can you please tell what, can we do? If the builder is asking for the superbuild up price ?
    Can we complain? If, yes there where we can do this?

    Thanks
    CommentQuote
  • Originally Posted by wiseman
    I like the one about "first move advantage". If you are buying Real Estate THIS LATE in the boom (when the bust has already started) you are a LAST MOVER or at least one of the LAST EARLY MOVERS.

    Wait for the decline to run its full course. The same 3400 per Sft will be available for 700 per Sft. Mark my words.

    And wait for that Powai to come down from 16000. I'm betting it will be at least 8000 if not lower when this bust is finished :D


    Dear wiseman,

    I only agree partially with your comments that the prices are now coming down and better wait. But the price of Rs. 3400/sq/ ft. is too high for that -out of city- area, whatever quality or appreciation in the long run. , one can talk now. This place is far away from the airport and the city centre.The nearest town is Chingleput, which does not have good facilities, not even good hotels/restaurants. It may take atleast 5 years from the taking over of the flat for any decent appreciation. Commuting to city may be a not-happy proposition unless one has his own car. Please do not forget, the rental income may be very less, I know, even in decent projects like Arun Excello at Urapakkam, the rent for a good 2 bed is less than Rs. 3000/pm and most flats are remaining vacant. People expected, Shriram SEZ will give the boost, but it is not happening. Satyam is not going to use the office of over 1 lakh sq. ft. booked by them there. Much of the office space is expected to remain vacant for atleast another year or two.
    In addition to rent, one should add the high Rs. 1.5 to 2 /sq. ft. per month maintanence charge to be borne by the tenant for the flat.
    CommentQuote
  • Originally Posted by ks2071746
    Dear wiseman,

    I only agree partially with your comments that the prices are now coming down and better wait. But the price of Rs. 3400/sq/ ft. is too high for that -out of city- area, whatever quality or appreciation in the long run. , one can talk now. This place is far away from the airport and the city centre.The nearest town is Chingleput, which does not have good facilities, not even good hotels/restaurants. It may take atleast 5 years from the taking over of the flat for any decent appreciation. Commuting to city may be a not-happy proposition unless one has his own car. Please do not forget, the rental income may be very less, I know, even in decent projects like Arun Excello at Urapakkam, the rent for a good 2 bed is less than Rs. 3000/pm and most flats are remaining vacant. People expected, Shriram SEZ will give the boost, but it is not happening. Satyam is not going to use the office of over 1 lakh sq. ft. booked by them there. Much of the office space is expected to remain vacant for atleast another year or two.
    In addition to rent, one should add the high Rs. 1.5 to 2 /sq. ft. per month maintanence charge to be borne by the tenant for the flat.


    i concur about hirco palace grounds the location is a jungle,if you like a jungle resort you can buy it.
    rates coming down to 700 rs is a fantasy. construction cost and amenities he gives will easily touch 1500/- add the land cost,the overheads and he will break even only at around 2200/-
    rentals in big complexes is lesser bcoz of the maintenance charges,
    but i think the urapakkam, gudvanchery stretch is a nice place.less than 10 km of highway ride from tambaram.and the lesser congestion makes it a
    an attractive place to live
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  • Guduvanchery,urapakkam etc are nice place for farmers to live as IT companies in Shriram IT park etc are not coming up
    CommentQuote
  • Originally Posted by Nataraajg007
    Guduvanchery,urapakkam etc are nice place for farmers to live as IT companies in Shriram IT park etc are not coming up


    I partially agree with you.

    ks2071746
    CommentQuote
  • Originally Posted by Nataraajg007
    Guduvanchery,urapakkam etc are nice place for farmers to live as IT companies in Shriram IT park etc are not coming up


    some may not come but many will bcoz it is an sez and it parks' tax holiday is getting over this year and IT companies who who arent
    used to paying Income taxes will move to sez's.it has many more advantages like the single window system for all corporate needs.
    Shriram is not the only sez L&T's estancia and mahindra city both are sez with residences,schools already functioning in mahindra,infosys and many are operational.vidya mandir is coming up in estancia with malls and hotel.
    other projects are a purely commercial mall with a gold souk already half way thru is at urapakkam.
    perangalathur is already an old established locality.
    and dont think low about farmers majority are sitting on more cash than you and I.
    CommentQuote
  • Originally Posted by madrasi
    some may not come but many will bcoz it is an sez and it parks' tax holiday is getting over this year and IT companies who who arent
    used to paying Income taxes will move to sez's.it has many more advantages like the single window system for all corporate needs.
    Shriram is not the only sez L&T's estancia and mahindra city both are sez with residences,schools already functioning in mahindra,infosys and many are operational.vidya mandir is coming up in estancia with malls and hotel.
    other projects are a purely commercial mall with a gold souk already half way thru is at urapakkam.
    perangalathur is already an old established locality.
    and dont think low about farmers majority are sitting on more cash than you and I.


    Dear madrasi,

    I agree that those farmers who have sold their land in the last few years made a lot of money. I have heard about many having so much of cash own Scorpios, Innova etc. and not knowing much on what to do with the large cash, of course, most of them unaccounted. You can see a number of the farmers houses in Mahindra City area etc. such cars parked outside their premises.

    ks2071746
    CommentQuote